Programme Rules.

01Overview

The Hentrad journey lasts one year from when you start and has four stages. Each must be passed before the next opens. You never trade or deposit money of your own: practice and verification accounts are simulated at live market prices, and funded accounts are Hentrad's, whose trades may be placed in real markets on Hentrad's own account.

You choose your account size, from $1,000 to $5,000 in steps of $1,000, when you pay the evaluation fee. Every account you trade shows that size as its reference balance and follows the same trading rules. Every dollar amount in these rules is for a $1,000 account and grows in proportion to your size: on a $3,000 account, multiply by 3. You can move up to a bigger size by paying the difference, until your verification week starts; after that your size is fixed for the journey. Only funded accounts can lead to profit shares.

02Training

• Training opens when your evaluation fee ($3 for every $1,000 of account size, paid in your local currency at the day's exchange rate) is confirmed.
• It has 61 lessons in eleven modules covering the basics of trading, technical analysis, market conditions, trading psychology, money management and the Hentrad trading philosophy, ending with a capstone module.
• The course is paced over 11 study days, one module a day. Each day opens the day after the previous one was finished (Nigeria time), and its lessons are taken in order. Each module ends with a checkpoint, and the course ends with a final review; a checkpoint that isn't passed can be taken again the next day.
• Some lessons are completed by showing a habit on your practice account. For example, one checks that you don't open a new trade straight after a loss.

03Evaluation

The evaluation has two parts. You must pass both.

The exam

• 16 scenario questions, 4 from each area, drawn from a larger question bank. In each area, one question asks you to select every correct option; it is marked correct only if exactly the correct options are selected.
• Technical analysis, psychology and money management each count for 30% of the score; trading philosophy counts for 10%.
• To pass you need 80% overall and at least 70% in every area.
• Results are not shown on submission. Your attempt is reviewed and the result, with each area shown as met or below the standard, is emailed to you within 24 hours. Scores and correct answers are not disclosed.
• If you don't pass, you can retake the exam 24 hours after your result is sent.

Your practice record

• At least 10 trades on your practice account, in any market,
• risking no more than 1% of the practice balance on any trade,
• with a drawdown never larger than 10%.

04Verification week

One trading week (7 days) under funded rules. To pass you must:

• place at least 8 trades, on at least 5 different days;
• have no more than 2 losing days;
• finish the week in profit.

The week runs to its end and is decided 24 hours after it ends; the result is emailed to you. Passing opens your funded account and issues your first badge, Certified Trader.

If a week doesn't pass, your evaluation pass still stands. Your first new week can start straight away. After a second week that doesn't pass, and after each one after that, the next can start 7 days after that result: time to review your journal and reset.

05Trading rules (every account)

Markets

Forex: EURUSD, GBPUSD, AUDUSD, NZDUSD, USDJPY, USDCAD, USDCHF, EURGBP, EURJPY, GBPJPY, AUDJPY, EURAUD and GBPAUD. Metals and oil: XAUUSD (gold), XAGUSD (silver) and USOIL (WTI crude). Indices: US30, US500, NAS100 and GER40. Crypto: BTCUSD and ETHUSD. All results are measured in US dollars; markets priced in another currency are converted at the current rate.

Every order

• Must have a stop-loss, on the correct side of the price and at least the market's minimum distance away. A take-profit, if set, follows the same rule.
• Size between 0.01 and 1 lot, in steps of 0.01.
• The amount at risk (from entry to stop-loss) may not exceed your daily line.
• The combined risk of all open trades and waiting pending orders may not exceed what is left of your daily line after today's losses.

Orders that fail any check are refused.

News and fast markets

• News pause. New trades on a market are not accepted from 5 minutes before to 5 minutes after a high-impact economic release (such as a central-bank decision, inflation figures or a jobs report) for a currency that market depends on. The desk shows upcoming releases and the pause times. Open trades keep their stop-loss and take-profit, and pending orders wait until the pause ends.
• Unusually wide spreads. When a market's spread is at least three times its recent average, new orders on it are refused until it settles.
• Prices can still jump past a stop-loss in fast markets, so a loss can be larger than planned. The daily line still applies.

Pending orders

• A buy limit, sell limit, buy stop or sell stop waits until the market reaches its price, then opens at the market price as a normal trade.
• It is checked when placed (at its own price) and again when it fills; if it would break a rule at that moment, it is cancelled and you are told why.
• Pending orders last until the end of the trading day, and are cancelled when the daily line is reached or the account closes.

The daily line

• Each trading day, your result may move up or down only as far as your daily line: ±$2 per $1,000 of account at Level 1.
• The day's result includes closed trades and the current value of open trades.
• When the result reaches the line, in profit or in loss, all open trades are closed at market prices and no new trades are accepted until the next trading day.
• Each trade also carries the profit side of the line as a target: if the price reaches the level where that trade alone would take the day to the line, it closes there, at that level. This is shown on the chart as the trade's LINE, and applies alongside any take-profit you set (whichever is nearer).
• The trading day resets at 00:00 UTC (1:00 AM in Nigeria).

06Levels

On a funded account, a week that ends with a net profit counts as a profitable week. Profitable weeks are counted across the whole journey, not in a row, and a level, once reached, is never lost.

Badges can be checked publicly on the badge check page.

07Withdrawal from the journey

A losing day is any trading day that ends with a net result below zero, whether or not it reached the line. Days without trades never count.

A funded run ends ("withdrawal") after:

• 3 losing days in a row, or
• 3 losing days within the last 5 weekdays.

On withdrawal, open trades are closed and the funded account stops trading. Profit share already earned, including for the week of the withdrawal, is still paid.

08Reinstatement

• A withdrawn trader may come back by paying the reinstatement fee ($1.50 per $1,000 of account size). There is no test week.
• You continue the same funded account from where it stopped: the same balance, level, high-water mark and empowerment fund, and the journey's original end date.
• Losing days are counted afresh from the day you come back.
• There is no limit on the number of times you can come back, until the journey's year ends. Each comeback needs its own fee.

09Profit share

Profit shares are paid by Hentrad, based on the results of your funded account.

• Profit share is worked out once a week on each funded account.
• Only profit above the account's previous highest balance (its "high-water mark") qualifies. The mark then moves up to the new high.
• Your profit share is 75% of qualifying profit. If someone referred you, Hentrad also pays them a reward of 5% (see the Referral Terms); it never comes out of your share.
• Half of your 75% can be requested from your portal each week. The other half goes into your empowerment fund, released when you complete the journey.
• To be paid, you must add a bank account in your own name in your portal.
• Profit share is worked out in US dollars and paid in your local currency at the exchange rate on the day it is paid. The rate used is shown with each payment, and you are emailed when it is sent.

10Completing the journey

The journey ends one year after it began. Your funded account then closes, you graduate, and your empowerment fund is released for payment.

11Integrity

We may review any account. If we find a breach of the Terms & Conditions, such as multiple accounts, account sharing or exploiting errors, we may reverse affected results, cancel related profit shares and remove the trader from the programme.

We may update these rules. Changes apply from the date shown at the top of this page, and we'll tell you in the app before significant changes take effect.